Business

French economy contracted 4% in Q4

The Bank of released data on the state of the French at the end of the fourth quarter of last year. France’s GDP fell by 4% in October-December 2020, according to the central bank.

At the same time, the December easing of restrictions imposed in the country to curb the spread of  did not improve the economic situation, as it did in the third quarter.

In July-September, the relaxation of restrictions contributed to a sharp increase in economic activity, and in the third quarter, GDP grew by 18.7% compared to the previous three months.

According to the Central Bank, France’s GDP fell by 9% in 2020, as preliminary data from the regulator showed. In December, there was a stable activity in the construction industry.

A significant increase in activity in the last month of last year was also observed among service providers. The industry also showed a slight improvement.



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